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CARBON (€/T) FRIMON VAR D-1 VAR W-1AVG.MAXMIN 24/10 27/10FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202578.32 77.77-0.55-2.0573.2083.9360.94CO2 EUA DEC 202680.35 79.79-0.56-2.0775.1886.3562.54CO2 EUA DEC 202782.59 82.03-0.56-2.0377.4789.0764.54CO2 EUA DEC 202885.14 84.56-0.58-2.0280.0491.9466.86UK ETS DEC 25 EUR 62.57 62.630.06-2.9356.6567.0437.35UK ETS DEC 26 EUR 65.36 65.440.08-3.0259.2870.0439.48UK ETS DEC 27 EUR 68.37 68.460.09-3.0862.0573.1442.14European carbon prices fell on Monday, weighed down by ongoing selling amidweak weather-driven fundamentals. As a result, the EUAs expiring in Dec-2025dipped by 0.7% to 77.77 EUR/tonne.CO2 EUAEXCHANGE RATES FRIMONVAR D-1 VAR W-1AVG.MAXMIN 24/1027/10FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1612 1.16400.0028-0.00151.12301.18371.0198RATE EUR/GBP0.8726 0.8721-0.00050.0030.85250.87480.8253RATE GBP/EUR1.1460 1.14670.0007-0.00391.17331.21171.1431The EUR/USD pair added 0.2% to 1.1640, boosted by improved risk sentimentfollowing US–China talks in Malaysia ahead of the Trump–Xi Jinping summit inSouth Korea. The euro gained some support as the US dollar eased, thoughthe pair remained near familiar levels ahead of the Federal Reserve’s policydecision.The EUR/GBP rate eased by 0.1% to 0.8721, as diverging expectationsbetween the BoE and the ECB kept traders cautious. Anticipation of furtherBank of England easing and concerns over the UK’s fiscal outlook continued toweigh on the pound, while political uncertainty in France drove the euro lower.Markets now price in a higher likelihood of a 25-basis-point November cut, incontrast to ECB signals that its easing cycle is likely over.